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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (34477)5/14/2009 11:45:50 AM
From: peter michaelson  Read Replies (1) of 78753
 
Hi Spekulatius:

I've noticed that many shippers trade below book value. I'm concerned this is because they bought the ships when freight rates were higher, which had the effect of making ships more expensive.

In other words, asset value may be substantially overstated as the value of ships has no doubt declined along with shipping rates.

Perhaps you have studied this factor and like PRGN still.

Peter
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